We're claiming grandson Casey this year, do we put his PFD on our taxes or file seperate for him?
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Your 2019 Alaska Permanent Fund dividend goes in the 1099-MISC section. Here's how to get there:
If you're filing jointly and your spouse received an Alaska PFD, select Yes on the following screen and repeat these steps, starting with Step 4.
Your Alaska PFD gets reported on Form 1040, Schedule 1, Line 8.
A child's Alaska PFD needs to be reported, even if it was their only source of income in 2019.
If your child's total income was exclusively unearned (meaning the Alaska PFD, plus interest, dividends, or capital gains distributions—no wages or other income earned by working) and was less than $11,000, you can either report their PFD on your return or your child can report it on their own return.
Otherwise, if your child's unearned income (including the Alaska PFD) is $11,000 or more, they must file their own return.
Follow these steps if you want to include your child's PFD on your return:
Answer the questions and TurboTax will fill out Form 8814 that shows the child's income.
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